How to start and structure a QIF
A qualified investor fund is a regulated investment vehicle subject to the CNB’s supervision. Specific regulatory factors and rules must be taken into account when establishing a QIF.
These funds are intended for experienced private and institutional investors, whether natural and legal persons, who are known as ”qualified investors”. A qualified investor fund must have at least two investors. There is no upper limit on the number of investors.
Each fund must have its own manager, administrator and depositary.
A fund’s manager, administrator, and depositary require a CNB permit(this is covered in more detail in section 4.
The process of establishing an investment fund is different for a managed and a self-managed fund.
A fund managed by an investment company simply needs to be registered in the list maintained by the CNB. A self-managed fund, on the other hand, requires a CNB permit.
Securities issued by qualified investor funds may be offered to investors subsequently publicly traded.